Tree Island Unitholders Elect Slate of Six Trustees to Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2008) - Tree Island Wire Income Fund (the "Fund") (TSX:TIL.UN) today announced that unitholders elected the slate of Trustees put forward by the Fund at the Annual General Meeting held earlier today. The elected Trustees include Michael Fitch, David Gluskin, Keith Purchase, Ted Leja, Ralph Leverton and Daniel McAtee. All other resolutions set out in the Notice of Annual General Meeting were duly passed.

Daniel McAtee, President and CEO of Tree Island Industries and a Trustee of the Fund, delivered management's presentation at the Annual General Meeting. A copy of the presentation is available on Tree Island's website at www.treeisland.com.

Fund Profile

The Fund holds a 100% ownership interest in Tree Island Industries Ltd., one of North America's largest producers of wire and fabricated wire products. The Fund was launched on November 12, 2002 with the completion of an initial public offering. There are currently 21,918,400 units of the Fund outstanding. The Fund's performance depends entirely on the performance of Tree Island.

Tree Island Profile

Headquartered in Richmond, British Columbia, Tree Island Industries produces wire products for a diverse range of construction, agricultural, manufacturing and industrial applications. Its products include bright wire, stainless steel wire and galvanized wire; a broad array of fasteners, including packaged, collated and bulk nails; stucco reinforcing products, engineered structural mesh, fencing and other fabricated wire products. The company markets these products under the Tree Island, TI Imports and HK Universe brand names. Tree Island also owns and operates a Hong Kong-based trading company that provides internationally sourced products to Tree Island and its customers worldwide.